Intesa San Paolo bank headquaters is seen in Turin, Italy, November 7, 2018.
The ECB had set the same threshold at 8.88% for the current year.
The new requirement kicks in on Jan. 1, 2024.
The increase to 2023 stems mostly from a buffer that 'Other Systemically Important Institutions' (O-SII) are due to hold, which stands at 1.25% for 2024 versus 0.75% in 2023.
The countercyclical buffer requirement also inched up slightly to 0.23% from 0.16%, Intesa said.
Persons:
headquaters, Stefano Rellandini, Intesa, Valentina Za, Jonathan Oatis
Organizations:
REUTERS, European Central Bank, ECB, Thomson
Locations:
Paolo, Turin, Italy